1,720,966 research outputs found
Sistemi di misurazione delle prestazioni e influenza sulle decisioni strategiche locali nelle imprese multinazionali
No full textDopo aver descritto l’evoluzione dell’impiego dei sistemi di misurazione delle prestazioni (d’ora in poi SMP) lungo le fasi evolutive delle imprese multinazionali, l’articolo si focalizza sull’utilizzo del SMP implementati dal centro (Headquarter) a fini di influenza sulle decisioni locali (subsidiaries). E’ questo un tema particolarmente interessante per un duplice motivo. Da una parte, sebbene gli studi di management Accounting assumano che il SMP sia un meccanismo utilizzabile per molteplici finalità, esiste una mancanza di ricerca empirica sul tema. Dall’altra, gli studi di International Business evidenziano l’esistenza di problematiche irrisolte circa l’uso dei SMP quale meccanismo di governo delle relazioni tra headquarter e subsidiaries.
In base ai due filoni di letteratura indagati, si ipotizza che la partecipazione della subsidiary al disegno del SMP, la measurement diversity nella struttura dei SMP, il legame tra SMP e sistemi di incentivazione, la cultura nazionale di headquarter, la dimensione delle subsidiaries e la pressione globale hanno effetti sull’influenza che i SMP esercitano sulle decisioni delle subsidiaries stesse (decision-influencing use). I dati analizzati sono stati raccolti attraverso una survey questionaria. I questionari sono stati inviati tramite email a 100 subsidiaries. I risultati mostrano che il decision- influencing use dei SMP è tanto più elevato quanto più le subsidiaries partecipano alla progettazione dei SMP, quanto più la casamadre mostra una cultura tollerante verso l’incertezza, quanto maggiore è il numero dei dipendenti della subsidiary e quanto più alta è la pressione globale. Contrariamente ai modelli bilanciati di reporting ultimamente sostenuti dalla letteratura, la measurement diversity e il collegamento con i meccanismi di incentivazione non hanno un impatto significativo sul decision-influencing use dei SMP. Le evidenze empiriche sono discusse supportandole con indicazioni qualitative derivanti da un focus group. Esso ha rivelato la coesistenza in molte realtà di un doppio SMP (centrale e locale). Tale fenomeno di decoupling dei SMP ha condotto alla identificazione di quattro situazioni locali alle quali corrispondono differenti livelli di decision-influencing use dei SMP e differenti risultati di performance economiche delle subisdiaries. Le evidenze empiriche quantitative e qualitative presentate offrono diversi spunti per la ricerca sui SMP all’interno delle imprese multinazionali
Do Best-performing subsidiaries rely on headquarters-implemented performance measurement system (PMS) to take
No full textNo abstract availabl
You learn from what you measure: financial and non-financial performance measures in multinational companies
No full textAccording to recent studies in international management, relationships between headquarters
and subsidiaries in the global economy are characterised simultaneously by
elements of organisational interdependence and local autonomy. These characteristics
challenge the traditional design and use of performance measurement systems (PMSs).
Contemporary approaches to PMSs emphasise the role of performance indicators for
strategy implementation and advocate the adoption of non-financial indicators in addition
to traditional financial metrics. We investigated the factors associated with the inclusion of
non-financial indicators in PMSs used in relationships between headquarters and
subsidiaries. Our empirical study is based on 141 questionnaires collected from Italian
subsidiaries of foreign companies and 13 interviews with respondents. Non-financial performance
indicators contained in PMSs refer equally to customer, internal processes and
people measurement perspectives. Furthermore, we find that the inclusion of non-financial
indicators is positively associated with relative performance evaluation, interactive use of
PMSs, subsidiary size, headquarters nationality and subsidiary participation in the design of
PMSs. Information gathered through interviews provides explanations of our results, and
suggests that the inclusion of non-financial perspectives in PMSs contributes to the
strategic alignment of international organisations by supporting learning and dialogue
within relationships between headquarters and subsidiaries
The effects of independent directors on the level of voluntary disclosure. Evidence from Italian listed companies
No full textThe paper shows that independent directors are positively correlated to the level of disclosure of Italian listed companie
Performance measurement systems in multinational companies: the use of non-financial performance indicators in relationship between headquarters and subsidiaries.
No full textNo abstract availabl
The relationship between voluntary disclosure and independent directors in the presence of a dominant shareholder
No full textDifferently from prior studies that examine the role of stand-alone control systems within the relationship between owners and managers, our study investigates the correlation between two control mechanisms – voluntary disclosure and independent directors – in companies characterized by the presence of a dominant shareholder that is supposed to mitigate the classical agency problem. Based on agency theory, we hypothesize that the two mechanisms tend to coexist, since the presence of either one reduces the costs of introducing the other. Two further effects – the reputation and the domino effect – contribute to determine a positive relationship between the two mechanisms. We carried out the empirical analysis on 175 nonfinancial
Italian listed companies, all controlled by a dominant shareholder. Voluntary disclosure is measured through three alternative disclosure indexes. Independent directors are identified not only according to a formal/legal definition, but also through stricter criteria. The empirical test is based on a multivariate analysis controlling for size, residual ownership diffusion, leverage, profitability and labour pressure. Results support our hypothesis and are robust to alternative criteria to identify dominant
shareholders. Our study contributes to a better understanding of the relationship between different control mechanisms in particular agency settings
The missing link between corporate performance measurement systems and CEO incentive plans
No full textWhile offering a literature review regarding several aspects and pitfalls of
performance measurement and compensation literature and practice, we
discuss the separation between corporate performance measurement systems
(CPMSs) and incentive plans for chief executive officer (CEOIPs).
Through performance measurement and compensation, organizations align
competing interests and achieve management control. CPMS orient organizational
actions toward organizational goals. CEOIP orient CEOs’ actions
toward shareholders’ value. Despite the common nature (i.e., management
control mechanisms) and, thus, purpose (i.e., influence on actions) of
CPMS and CEOIP, both literature and practice neglect the link connecting
the two mechanisms. In search for an explanation, we develop a framework
that examines the link between CPMS and CEOIP under the three forms of
governance proposed by transaction cost economics—namely, markets,
hierarchies, and hybrids. Whereas in markets and hierarchies the control
problem can be solved with a focus on one mechanism (i.e., CEOIP and
CPMS, respectively), hybrid governance structures require the integration
of CPMS and CEOIP. By exploring areas of integration between CPMS
and CEOIP, we generate questions for future research. We expect that the
integration between CPMS and CEOIP could benefit the alignment of
interests and lead to more effective management control within modern
organizations
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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